CONNEQT Health lays out the case for arterial health at September EGM
At its Extraordinary General Meeting on 15 September 2026, CONNEQT Health (ASX: CQT) presented its strategic vision for making arterial health a routinely measured and commercially scalable diagnostic category. Management framed the opportunity around a stark clinical reality: a heart attack occurs every 2 minutes among working-age adults, yet the underlying vascular risk is largely invisible to conventional screening tools.
The economic burden underpinning this gap is considerable. The presentation cited 44 days off work following a myocardial infarction, $35,000–$90,000 in first-year direct medical costs, and up to approximately $10,000 in out-of-pocket patient exposure.
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The diagnostic blind spot — why existing tools fall short
Management presented a central thesis: traditional blood pressure measurements are useful but incomplete for detecting arterial ageing. The presentation used the case of Maria, aged 48, to illustrate the gap. The AHA PREVENT calculator assigned her a 2.1% low-risk score, yet her actual vascular biology reflected the arteries of an 82-year-old, with reclassified risk of 13.4% high risk. A 2-minute SphygmoCor assessment, management noted, can surface this hidden risk non-invasively.
SphygmoCor’s five vascular biomarkers
The presentation outlined five biomarkers delivered by the SphygmoCor platform, each with associated cardiovascular event risk thresholds:
| Measurement | Threshold | CV Event Risk |
|---|---|---|
| Central Blood Pressure | >130 mmHg | 3x increase in CV event risk |
| Central Pulse Pressure | >50 mmHg | 2–3x increase in CV event risk |
| Pulse Pressure Amplification | <130% | 2–3x increase in CV event risk |
| Augmentation Pressure | Each 10 mmHg increase | 30% increase in CV event risk |
| Augmentation Index | Each 10% increase | 35–40% increase in CV event risk |
The presentation also noted that a 4 mmHg reduction in central pressure can lower cardiovascular risk by 20%. SphygmoCor is backed by more than 20 years of R&D and over 3,200 peer-reviewed studies, with a logo slide in the presentation indicating institutional trust across leading healthcare and research organisations including Mayo Clinic, Johns Hopkins, Cleveland Clinic, Stanford, and MIT, among others.
Two revenue streams, one platform — how CONNEQT monetises arterial health
Management presented a dual-market commercial model, with both consumer and enterprise segments running on the same SphygmoCor platform.
The consumer pricing structure outlined in the presentation:
- Yearly Plan: $199.99
- Monthly Plan: $24.99
- 10 Pack: $99
The enterprise model operates on a per-report and hardware basis:
- Per-report fee: $8–$15 (cash pay, reimbursable CPT 93050)
- Hardware: $289 per unit, $2,500 setup
Consumer traction — 0 to approximately $4M run rate in six quarters
The presentation highlighted that the consumer segment has grown from pre-order stage to an approximately $4M annualised run rate over six quarters, annotated as 13X growth in the accompanying bar chart. Over 10,000 units have been sold to date. Management noted that the chart reflects cash receipts at order, with GAAP revenue recognised upon hardware shipment and ratably over the subscription period.
Third-party validation has reinforced the platform’s clinical positioning, with AARP recognition for the Pulse monitor naming it one of the best blood pressure devices of 2026 in the ‘Most Comprehensive Data’ category across an organisation with over 38 million members.
Enterprise model — from one-time sales to recurring revenue
The presentation contrasted the economics of CONNEQT’s one-time and subscription enterprise models:
| Metric | One-time model | Subscription model |
|---|---|---|
| Year-one revenue | $6,500 | $6,100 |
| Base ARR thereafter | — | $3,600 |
| Usage-based overages | — | Additional upside |
| Three-year base revenue | $6,500 | $13,300 + overages |
The company is currently deploying the enterprise model into a 100-location advanced testing franchise operating across 41 states.
The market tailwind behind arterial health
The presentation outlined four structural tailwinds supporting CONNEQT’s growth thesis:
- US wellness spending: Estimated at more than $500B in 2025, growing at an estimated 4–5% annually (McKinsey).
- ACO performance payments: Rose 32% year-on-year, from $3.1B in 2023 to $4.1B in 2024 (CMS Medicare Shared Savings Program data).
- Employer well-being investment: 93% of employers surveyed plan to maintain or increase investment; 20% plan to increase (Business Group on Health, n=131).
- DPC and concierge practice sites: Grew 83% over five years, from 1,658 sites in 2018 to 3,036 in 2023.
On competitive positioning, the presentation framed arterial intelligence as the largest unclaimed biomarker category, referencing peer category valuations including OURA at US$11B, WHOOP at US$10B, and Function at US$2.5B. These figures represent current or last funding round valuations, not public market comparisons.
Proven team, clear roadmap, aligned ownership
The presentation introduced CONNEQT’s leadership team, with key credentials highlighted for each member:
- Craig R. Cooper — CEO & Co-Founder (Boost Mobile, Softbank Capital)
- Niall Cairns — Executive Chairman & Co-Founder
- Dr. Sanjeev Bhavnani — Medical Officer, Cardiology (Scripps Clinic, Food and Drug Administration (FDA), American College of Cardiology (ACC))
- Catherine Liao — Chief Strategy & Commercial Officer
C2 Ventures holds 42% of the company, a concentration management highlighted as signalling founder and major investor alignment.
The roadmap presented three investment pillars:
The SphygmoCor Cloud FDA submission, lodged under the Q-Submission programme to initiate 510(k) clearance as a Software as a Medical Device, sits at the centre of this infrastructure build, with clearance targeted across Q3-Q4 FY27 and all next-generation products to be built on the platform.
- SphygmoCor Cloud: Cloud-native algorithms, APIs, enterprise interoperability, and biomarker-as-a-service capability.
- Connected device platform: Pulse Core, XCEL v2, cloud-based biomarker extraction, and manufacturing readiness.
- Consumer and clinical experience: Unified mobile workflows covering onboarding, measurement, reporting, and longitudinal engagement.
The company’s long-term target, as outlined in the presentation, is $1B in recurring revenue, to be achieved by scaling from advanced-testing franchises to annual screening for 105 million working-age Americans over 40.
Ready to Explore the Arterial Health Opportunity Behind CONNEQT Health?
CONNEQT Health is building a commercially scalable diagnostic category around a largely invisible cardiovascular risk, deploying its clinically validated SphygmoCor platform across consumer and enterprise markets with a long-term target of $1B in recurring revenue. With over 10,000 units sold, a growing annualised run rate, and an FDA submission underway, the company’s case for arterial intelligence as a mainstream screening category is gaining tangible momentum.
To dig deeper into the SphygmoCor platform, the dual-revenue model, and the roadmap ahead, visit the CONNEQT Health investor centre for the full strategic overview.